Uzbekistan’s Reserves Decrease to US$69 Billion in March

Tashkent, Uzbekistan (UzDaily.com) — The gold and foreign exchange reserves of the Central Bank of Uzbekistan decreased from a record level of US$77.1 billion to US$69.0 billion at the end of March 2026.

Despite the monthly decline, reserves increased by US$2.7 billion over the first quarter, following a substantial growth of US$25.1 billion throughout 2025.

In March, the foreign currency portion of the reserves fell from US$8.8 billion to US$7.6 billion. The primary driver of the overall decrease was the valuation of gold holdings, which dropped by US$6.8 billion to US$60.9 billion.

In contrast, the physical volume of gold reserves actually increased, rising from 13.1 million to 13.4 million troy ounces.

The decline in the value of gold reserves was attributed to a slump in global gold prices. According to London Fixing data, quotes fell by 12% in March, settling at US$4,554 per ounce.

The volume of international securities in the regulator's portfolio remained steady at US$1.5 billion, maintaining the level seen at the start of 2026. By the end of 2025, this figure had grown significantly from US$101.7 million to US$1.5 billion.